TIVAN LIMITED — Capital/Financing Update 2012

Mar 7, 2012

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ASX ANASX ANNOUNCEMENT OUNCEMENT

ASX CODE: TNG ASX CODE: TNG

REGISTERED OFREGISTERED O F ICE FICE TNG Limited TNG Limited Level 1, 282 Rokeby Road Level 1, 282 Rokeby Road Subiaco, Western Australia 6008 Subiaco, Western Australia 6008

T +61 8 9327 0900 T +61 8 9327 0900 F +61 8 9327 0901 F +61 8 9327 0901

W wW ww w.tngltd.com.au .tngltd.com.au E corporate@tngltd.com.au E corporate@tngltd.com.au

ABN 12 000 817 023 ABN 12 000 817 023

DIRECTORS DIRECTORS Neil Biddle Neil Biddle Paul Burton Paul Burton Stuart Crow Stuart Crow Rex Turkington Wang Zhigang COMPANY SECRETARY Simon Robertson

COMPANY SECRETARY Simon Robertson PROJECTS

Mount Peake: Fe-V-Ti PROJECTS Manbarrum: Zn-Pb-Ag Mount Peake: Fe-V-Ti East Rover: Cu-Au Manbarrum: Zn-Pb-Ag McArthur: Cu East Rover: Cu-Au McArthur: Cu CONTACT DETAILS Mount Hardy Cu-Au Paul Burton | +61 8 9327 0900 Sandover Cu-Au Nicholas Read | +61 419 929 046 Simon Robertson | +61 8 9327 0900

LETTER AGREEMENT SIGNED WITH RIO TINTO EXPLORATION FOR BAUXITE ON TNG’s MELVILLE ISLAND LICENCE

Rio to spend $5m to earn 80% interest

Highlights

• In-principle terms agreed with Rio Tinto Exploration Pty Ltd (RTX) to explore on TNG’s owned Melville Island Licence Application.

• RTX to spend $5m to earn 80% interest subject to grant of licence.

• Formal Agreement for Farm-in and JV to be entered into within 3 months.

• TNG to retain 20% interest, assign or convert to 2% NSR

Australian resources company TNG Limited (ASX: TNG ) is pleased to advise that it has agreed in-principle terms for a farm-in and joint venture agreement on its 100% owned Melville Island licence ELA 28617, in the Northern Territory with RTX.

Under the in-principle terms, TNG will receive an initial cash payment of $50,000, and RTX will progress negotiations and grant of the licence application for Bauxite exploration. Following the grant of the licence RTX must spend $5m within 4 years to earn 80% equity in the project with TNG retaining 20% equity at which point it may elect to contribute, sell or convert its equity to a 2%NSR.

CONTACT DETAILS

Paul Burton | +61 8 9327 0900 Nicholas Read | +61 419 929 046 Simon Robertson | +61 8 9327 0900

The Melville Island Exploration licence application has been a strategic licence for TNG being located in a prospective area for Bauxite and other minerals. The licence area covers approximately 1400km[2] .

The transaction is consistent with TNG’s focus on the continued evaluation and development of its flagship Mount Peake Project. It has been structured so that TNG will retain either a 20% interest or 2% NSR giving it continued exposure to the potential exploration upside of the project.

TNG’s Managing Director, Mr Paul Burton, said the transaction would enable it to remain focussed on the continued exploration and development of its flagship Mount Peake Iron-Vanadium-Titanium Project as the basis for a potentially world-scale ferrous metals business, as well as the continued development of its co-owned new hydrometallurgical process, and its expanding Copper exploration portfolio.

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TNG LIMITED

Paul E Burton Managing Director 08 March 2012

COMPETENT PERSON STATEMENT

The information in this report that relates to Exploration Results and Targets are based on information compiled by Mr Paul Burton, B.Sc, M.Sc, is also a Member of The Australasian Institute of Mining and Metallurgy , and an employee and Director of TNG Limited. Mr Burton has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Burton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Enquiries:

Paul E Burton, Managing Director + 61 (0) 8 9327 0900

Nicholas Read, Read Corporate + 61 (0) 419 929 046

TNG Limited | ASX Announcement

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Figure 1: Melville Island Location Map. TNG ELA 28617.

TNG Limited | ASX Announcement